Going global is usually a worthy endeavor, but it does bring with it some challenges. If you are interested in taking your business global, it is crucial you have a plan in place to address some of the main hurdles you will need to overcome to succeed. We've outlined 8 main challenges for companies going global that will help prepare you for global expansion.
1. The Physical Distance
Although you may have the Internet and telephones to communicate overseas, nothing is quite the same as being there in person to talk to your prospects and your distribution partners, not to mention costs related to freight, logistics and shipping. At some point, you will have to figure out the costs involved in doing business “long distance” in the regions where you want to expand.
Translating for the legal industry is often complex, requiring a depth of knowledge of technical terms and their underlying meanings that far surpasses other fields. In the legal industry, perhaps more than in any other, professional translations are necessary to ensure understanding and avoid significant potential liability associated with inaccurate information or misleading translations.
The 2018 Olympic Winter Games in PyeongChang, South Korea are almost here. While the preparations for such a massive and exciting global event are always extensive, one of the largest hurdles organizers and attendees have to clear is the language barrier. Because the Olympic Games bring together participants from all over the globe, it doesn't matter where the games are centralized -- language barriers are bound to exist at each and every Olympic Games.
Although new compliance measures were passed in April 2016 regarding the General Data Protection Regulation (GDPR), many businesses are scrambling to implement new measures to meet the May 25, 2018 deadline. In order to ensure compliance, companies much start assessing and planning now. Understanding the foundation for the GDPR can help companies identify the areas that they need to improve.
There is a saying that “all politics are local.” The same can be said for content. To truly penetrate a market, your content has to be local. Some of the most well-known businesses have tried to enter the Indian market and stumbled because they failed to appreciate that fact. This article assesses how global companies can adapt their content mix to thrive in one of the most exciting emerging economies.
The most spoken language in any country is often obvious; usually, it’s the official language of the country. However, you can learn a lot about a country by analyzing its second most spoken language.
It wasn't that long ago when the idea of virtual reality (VR) technology sounded almost elusive and futuristic, but now it's set to become the next big thing in the business sphere. Let's take a look at these new technologies and how they are going to improve business communications and productivity in a multilingual world.
Global ambitions have taken the content streaming giant, Netflix far from its California roots into markets across Europe, Latin America and Asia. In early 2016, streaming giant Netflix, Inc. announced that it had rolled out its service to 190 countries around the world. In June, 2016 Netflix international subscriber growth wasn't performing as forecasted. The company had faced major headwinds as it tried to conquer the world. However, Netflix blasted past its own forecasts — and most of Wall Street's and now has 104 million subscribers worldwide. According to a recent study provided by Leichtman Research Group, more people report subscribing to Netflix than owning DVRs.
The three C's Netflix has tackled to improve its global expansion strategy:
In these times of globalization, flexibility and corporate social responsibility, there is an increasing need for innovative meeting formats that respond to organizations' new needs. Big multinational corporations that operate across countries need to stay in touch with their various stakeholders to develop strategies, implement plans, and continuously improve or innovate existing operations.
Here are four virtual meeting solutions that will allow your stakeholders to stay at the office and communicate in real time in the language of their choice.
- Remote Simultaneous Interpretation
- Multilingual Webinars
- Multilingual Conference Calls
- Virtual Reality Meetings